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The market trends of intravascular catheters are witnessing a giant surge due to the growing preference for minimally invasive clinical processes. Patients and healthcare companies alike are spotting the advantages of intravascular catheters in decreasing trauma, recuperation time, and overall healthcare prices. Rapid technological advancements characterize the intravascular catheter market. Innovations, together with improved substances, stepped forward design, and the integration of superior capabilities like actual-time monitoring are using market growth. These technological improvements contribute to higher affected person effects and extended efficiency in medical processes. With a worldwide rise in cardiovascular diseases, there may be an escalating demand for intravascular catheters for diagnostic and healing interventions.
Diabetes is a global fitness problem, and people with diabetes regularly require vascular access for numerous scientific tactics. Intravascular catheters have discovered extensive use in handling diabetic sufferers, contributing to the expanding market. Healthcare-related infections remain a giant venture. There is a growing emphasis on infection management measures, prompting the adoption of catheters with improved antimicrobial properties and infection prevention technology. This trend is shaping the market as healthcare vendors prioritize affected person protection. The shift toward domestic-based healthcare is impacting the intravascular catheter market. Patients are increasingly receiving clinical treatments in the consolation of their homes, and intravascular catheters play a pivotal position in facilitating such domestic-based treatment options. This trend is creating new opportunities and demanding situations for market players.
Market players are carrying out strategic collaborations and partnerships to strengthen their product portfolios and market presence. Collaborations between scientific device producers and healthcare centers make contributions to the improvement and adoption of modern intravascular catheter answers. Stringent regulatory frameworks challenge the intravascular catheter market. Compliance with regulatory requirements and acquiring important approvals are important for market players. Adherence to these guidelines ensures the protection and efficacy of intravascular catheters, influencing market dynamics. The market for intravascular catheters is becoming increasingly globalized, with key players increasing their reach throughout diverse geographical areas. This globalization allows for a broader market penetration and the sharing of great practices, which, in the end, contributes to the overall boom and improvement of the market.
Intravascular Catheter Market Highlights:
Intravascular Catheter Market Overview
Intravascular Catheter Market Size was valued at USD 9.36 Billion in 2023. The Global Intravascular Catheter industry is projected to grow from USD 10.07 Billion in 2024 to USD 18.12 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.05% during the forecast period (2024 - 2032).
The intravascular catheter market is driven by factors such as increasing hospitalization rates due to the rising prevalence of life-threatening diseases and growing demand for minimally invasive procedures to diagnose and treat different chronic diseases. Additionally, the increase in the number of intravascular catheterization labs, increasing number of intravascular catheterization procedures has fueled the growth of the intravascular catheter market.
On the other hand, the lack of skilled technicians and the increasing cases of local site infections are projected to hamper the growth of the market during the assessment period. Nevertheless, changes in regulatory policies and a rise in demand for effective therapies to treat complicated disorders are expected to reduce the impact of barriers during the forecast period.
Moreover, major companies in the market are involved in strategic acquisitions and collaborations to sustain their position in the market. For instance, in March 2019, Edwards Lifesciences Corporation had announced the acquisition of Corvia Medical, Inc. In April 2019, the company completed the acquisition of CAS Medical Systems, Inc.
Intravascular Catheter Market Segmentation
The global intravascular catheter market has been segmented based on product, application, and end user.
The market, based on product, has been bifurcated into short peripheral intravenous catheters (PIVC) and integrated/Closed PIVC catheters.
The market, by application, has been divided into renal disease, cancer, gastrointestinal diseases, infectious diseases, and other diseases. The renal disease segment is expected to hold a large share owing to the increasing occurrences of kidney-related disorders throughout the globe. The cancer segment is expected to be the fastest growing one due to the increased patient population in recent years.
The market, by end user, has been classified as hospitals, clinics, ambulatory surgical centers, homecare, and others.
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The IV catheter market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European IV catheter market has been sub-divided Western Europe and Eastern Europe.
Western Europe has further been classified as Germany, France, UK, Italy, Spain, and the rest of Western Europe. The intravascular catheter market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The intravascular catheter market in the Middle East & Africa has been divided into the Middle East and Africa.
Intravascular Catheter Market Key Players
Some of the key players in the global intravascular catheter market are:
- Boston Scientific Corporation
- C.R. Bard, Inc.
- Coloplast
- Cook Medical
- Edwards Life Sciences Corporation
- Getinge AB
- Johnson & Johnson
- McKesson Medical Surgical Inc.
- Medtronic Inc.
- Smiths Medical
- and Terumo Corporation
Intravascular Catheter Market Regional Analysis
The market in the Americas is expected to dominate the global intravascular catheter market due to the increasing per capita healthcare expenditure and the high adoption of new technology in the region. Furthermore, rising expenses in research and investment by healthcare bodies is expected to drive the growth of the market in this region.
The market in Europe showed a considerable amount of growth. The market growth in this region can be attributed to the presence of a well-established healthcare system and an increase in chronic diseases. According to the statistics published in 2018 by Office for National Statistics, the number of new cancer diagnoses in England increased from 303,135 in 2016 to 305,683 in 2017. Such high rates of new cancer diagnoses are likely to drive the demand for minimally invasive procedures. As a result, the market is projected to grow during the forecast period.
The market in Asia-Pacific is expected to have a steady growth rate during the forecast period owing to the increasing number of patients with chronic diseases and government initiatives for healthcare reforms. According to Global Burden of Disease Report published in 2017, heart disease is the leading cause of death in India, causing around 1.7 million deaths in India in 2016. However, decrease in capital investment is restricting the market growth of this region.
The market in the Middle East & Africa is expected to account for the least share of the global market due to low disposable incomes in the region. Moreover, the limited access to treatment facilities is projected to curb the growth of the market in future.
Global Intravascular Catheter Market, by Product
- Short PIVC Catheters
- Integrated/Closed PIVC Catheters
Global Intravascular Catheter Market, by Application
- Renal Disease
- Cancer
- Gastrointestinal Diseases
- Infectious Diseases
- Other Diseases
Global Intravascular Catheter Market, by End User
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Homecare
- Others
Global Intravascular Catheter Market, by Region
- Americas
- North America
- US
- Canada
- Latin America
- North America
- Europe
- Western Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Western Europe
- Eastern Europe
- Western Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Middle East
- Africa
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- Medical Device Companies
- Research and Development (R&D) Companies
- Government Research Institutes
- Academic Institutes and Universities
- Venture Capitalists
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